/KASE, December 3, 2024/ – Freedom Holding Corp. has provided Kazakhstan
Stock Exchange (KASE) with a review of the Purchasing Managers' Index (PMI)
of manufacturing in Kazakhstan for November 2024.
Below are comments from Yerlan Abdikarimov, Director of the Financial Analysis
Department of Freedom Finance Global PLC (a 100% subsidiary of Freedom
Holding Corp.).
– On the index of manufacturing industries in Kazakhstan:
""Kazakhstan's manufacturing industry is showing stability, with growth
potential remaining in the coming months. Demand, albeit at a slower pace,
continues to grow: production and new orders have been in the optimistic zone
for eight months in a row. At the same time, October was marked by both one of
the strongest slowdowns in production growth this year and a sharp increase in
the number of new jobs. We associate the latter with improved short-term
expectations amid the signing of new contracts. Among the restraining factors is
the extension of delivery times. The weakening of inflationary pressures,
although generally a positive factor, nevertheless limits the growth of sales
prices and slows down the growth of revenue".
"In November, business conditions and new orders in the manufacturing industry
of Kazakhstan reached record levels, surpassing the figures for August this
year. Among support factors was strong customer demand – the balance of
finished goods and work in progress was decreasing. As a result, we are seeing
one of the highest rates of growth in production capacity, accompanied by
active procurement and staff expansion. However, the situation is clouded by
ongoing logistical problems, rising costs of raw materials and supplies, and a
significant depreciation of the national currency. The combination of all these
factors is likely to have caused resources to be transferred directly to
production, with stocks reduced. Despite the contradictory situation, the
industry remains optimistic and predicts production growth next year, although
expectations have decreased slightly compared to October".
The review is published on KASE's Internet resource:
-
https://kase.kz/files/presentations/kz/KZ_Manufacturing_KAZ_2411_PR.pdf –
in Qazaq;
-
https://kase.kz/files/presentations/ru/KZ_Manufacturing_RUS_2411_PR.pdf –
in Russian;
-
https://kase.kz/files/presentations/en/KZ_Manufacturing_ENG_2411_PR.pdf –
in English.
[2024-12-03]